{"id":2907,"date":"2024-03-14T13:13:00","date_gmt":"2024-03-14T17:13:00","guid":{"rendered":"https:\/\/www.restaurantscanada.org\/?post_type=research&p=2907"},"modified":"2024-05-10T12:24:58","modified_gmt":"2024-05-10T16:24:58","slug":"restaurant-bankruptcies-soar-112-in-january","status":"publish","type":"research","link":"https:\/\/www.restaurantscanada.org\/fr\/research\/restaurant-bankruptcies-soar-112-in-january\/","title":{"rendered":"Restaurant Bankruptcies Soar 112% in January"},"content":{"rendered":"\n

Restaurant Bankruptcies Soar 112% in January<\/h2>\n\n\n\n

The number of restaurant bankruptcies in Canada jumped to 121 in January according to the Office of the Superintendent of Bankruptcy.  This is the highest number of monthly bankruptcies in more than a decade and represents a 112% increase over January 2023.  Prior to the pandemic, the restaurant industry averaged 44 bankruptcies a month.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

For all of 2023, there were 719 bankruptcies in the restaurant and accommodation industry, up from 500 in 2022 and 367 in 2021.  The recent surge in bankruptcies is due to several factors, including debt accumulated during the pandemic combined with eroding profit margins.  In January, 62% of restaurant companies were operating at a loss or just breaking even, a 10-percentage point increase compared to the summer of 2023.<\/p>\n\n\n\n

Restaurants accounted for nearly one in six bankruptcies in Canada in January \u2013 the highest of any industry. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Bankruptcies are expected to climb even higher in 2024 due to an economic slowdown and high household debt level eroding consumer spending.  As a result, real sales are forecast to decline in the first half of 2024 followed by relatively flat sales in the second half of the year.  To learn more about the economic outlook, click here<\/a><\/strong>.<\/p>\n\n\n\n

\n
\n\n\n\n
\"Chris<\/figure>
\n

As the\u00a0Chief Economist and Vice President of Research for Restaurants Canada, Chris Elliott<\/strong>\u00a0manages and produces a comprehensive research program that has made Restaurants Canada a leading source of information for and about Canada\u2019s $114-billion foodservice industry. Chris tracks and analyzes key industry and economic indicators and translates them into member reports and publications. He also provides research to support Restaurants Canada\u2019s lobbying efforts on issues that affect foodservice operators \u2013 from payroll taxes to food costs.<\/p>\n\n\n\n

Chris has worked with Restaurants Canada for over 20 years, has a Bachelor of Arts and Master Degree in Economics and specializes in economic modelling and forecasting.<\/p>\n<\/div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Restaurant Bankruptcies Soar 112% in January The number of restaurant bankruptcies in Canada jumped to 121 in January…<\/p>\n","protected":false},"author":5,"featured_media":2912,"template":"","meta":{"_acf_changed":false},"research-type":[177],"advocacy-issue":[],"class_list":["post-2907","research","type-research","status-publish","has-post-thumbnail","hentry","research-type-economists-notebook"],"acf":[],"yoast_head":"\nRestaurant Bankruptcies Soar 112% in January - Restaurants Canada<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Restaurant Bankruptcies Soar 112% in January - Restaurants Canada\" \/>\n<meta property=\"og:description\" content=\"Restaurant Bankruptcies Soar 112% in January The number of restaurant bankruptcies in Canada jumped to 121 in January...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/\" \/>\n<meta property=\"og:site_name\" content=\"Restaurants Canada\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RestaurantsCanada\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-10T16:24:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.restaurantscanada.org\/wp-content\/uploads\/2024\/03\/iStock-1286408482.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2121\" \/>\n\t<meta property=\"og:image:height\" content=\"1414\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@RestaurantsCA\" \/>\n<meta name=\"twitter:label1\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/research\\\/restaurant-bankruptcies-soar-112-in-january\\\/\",\"url\":\"https:\\\/\\\/www.restaurantscanada.org\\\/research\\\/restaurant-bankruptcies-soar-112-in-january\\\/\",\"name\":\"Restaurant Bankruptcies Soar 112% in January - Restaurants Canada\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/research\\\/restaurant-bankruptcies-soar-112-in-january\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/research\\\/restaurant-bankruptcies-soar-112-in-january\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.restaurantscanada.org\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/iStock-1286408482.jpg\",\"datePublished\":\"2024-03-14T17:13:00+00:00\",\"dateModified\":\"2024-05-10T16:24:58+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/research\\\/restaurant-bankruptcies-soar-112-in-january\\\/#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.restaurantscanada.org\\\/research\\\/restaurant-bankruptcies-soar-112-in-january\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/research\\\/restaurant-bankruptcies-soar-112-in-january\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.restaurantscanada.org\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/iStock-1286408482.jpg\",\"contentUrl\":\"https:\\\/\\\/www.restaurantscanada.org\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/iStock-1286408482.jpg\",\"width\":2121,\"height\":1414},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/research\\\/restaurant-bankruptcies-soar-112-in-january\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.restaurantscanada.org\\\/fr\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Restaurant Bankruptcies Soar 112% in January\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/#website\",\"url\":\"https:\\\/\\\/www.restaurantscanada.org\\\/\",\"name\":\"Restaurants Canada\",\"description\":\"La voix des services alimentaires\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.restaurantscanada.org\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-FR\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/#organization\",\"name\":\"Restaurants Canada\",\"alternateName\":\"RC\",\"url\":\"https:\\\/\\\/www.restaurantscanada.org\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/rcsparkdev.wpenginepowered.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/rc-brand-colour.svg\",\"contentUrl\":\"https:\\\/\\\/rcsparkdev.wpenginepowered.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/rc-brand-colour.svg\",\"width\":1,\"height\":1,\"caption\":\"Restaurants Canada\"},\"image\":{\"@id\":\"https:\\\/\\\/www.restaurantscanada.org\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/RestaurantsCanada\",\"https:\\\/\\\/x.com\\\/RestaurantsCA\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Restaurant Bankruptcies Soar 112% in January - Restaurants Canada","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/","og_locale":"fr_FR","og_type":"article","og_title":"Restaurant Bankruptcies Soar 112% in January - Restaurants Canada","og_description":"Restaurant Bankruptcies Soar 112% in January The number of restaurant bankruptcies in Canada jumped to 121 in January...","og_url":"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/","og_site_name":"Restaurants Canada","article_publisher":"https:\/\/www.facebook.com\/RestaurantsCanada","article_modified_time":"2024-05-10T16:24:58+00:00","og_image":[{"width":2121,"height":1414,"url":"https:\/\/www.restaurantscanada.org\/wp-content\/uploads\/2024\/03\/iStock-1286408482.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_site":"@RestaurantsCA","twitter_misc":{"Dur\u00e9e de lecture estim\u00e9e":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/","url":"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/","name":"Restaurant Bankruptcies Soar 112% in January - Restaurants Canada","isPartOf":{"@id":"https:\/\/www.restaurantscanada.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/#primaryimage"},"image":{"@id":"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/#primaryimage"},"thumbnailUrl":"https:\/\/www.restaurantscanada.org\/wp-content\/uploads\/2024\/03\/iStock-1286408482.jpg","datePublished":"2024-03-14T17:13:00+00:00","dateModified":"2024-05-10T16:24:58+00:00","breadcrumb":{"@id":"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/"]}]},{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/#primaryimage","url":"https:\/\/www.restaurantscanada.org\/wp-content\/uploads\/2024\/03\/iStock-1286408482.jpg","contentUrl":"https:\/\/www.restaurantscanada.org\/wp-content\/uploads\/2024\/03\/iStock-1286408482.jpg","width":2121,"height":1414},{"@type":"BreadcrumbList","@id":"https:\/\/www.restaurantscanada.org\/research\/restaurant-bankruptcies-soar-112-in-january\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.restaurantscanada.org\/fr\/"},{"@type":"ListItem","position":2,"name":"Restaurant Bankruptcies Soar 112% in January"}]},{"@type":"WebSite","@id":"https:\/\/www.restaurantscanada.org\/#website","url":"https:\/\/www.restaurantscanada.org\/","name":"Restaurants Canada","description":"La voix des services alimentaires","publisher":{"@id":"https:\/\/www.restaurantscanada.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.restaurantscanada.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-FR"},{"@type":"Organization","@id":"https:\/\/www.restaurantscanada.org\/#organization","name":"Restaurants Canada","alternateName":"RC","url":"https:\/\/www.restaurantscanada.org\/","logo":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/www.restaurantscanada.org\/#\/schema\/logo\/image\/","url":"https:\/\/rcsparkdev.wpenginepowered.com\/wp-content\/uploads\/2024\/01\/rc-brand-colour.svg","contentUrl":"https:\/\/rcsparkdev.wpenginepowered.com\/wp-content\/uploads\/2024\/01\/rc-brand-colour.svg","width":1,"height":1,"caption":"Restaurants Canada"},"image":{"@id":"https:\/\/www.restaurantscanada.org\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/RestaurantsCanada","https:\/\/x.com\/RestaurantsCA"]}]}},"_links":{"self":[{"href":"https:\/\/www.restaurantscanada.org\/fr\/wp-json\/wp\/v2\/research\/2907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.restaurantscanada.org\/fr\/wp-json\/wp\/v2\/research"}],"about":[{"href":"https:\/\/www.restaurantscanada.org\/fr\/wp-json\/wp\/v2\/types\/research"}],"author":[{"embeddable":true,"href":"https:\/\/www.restaurantscanada.org\/fr\/wp-json\/wp\/v2\/users\/5"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.restaurantscanada.org\/fr\/wp-json\/wp\/v2\/media\/2912"}],"wp:attachment":[{"href":"https:\/\/www.restaurantscanada.org\/fr\/wp-json\/wp\/v2\/media?parent=2907"}],"wp:term":[{"taxonomy":"research-type","embeddable":true,"href":"https:\/\/www.restaurantscanada.org\/fr\/wp-json\/wp\/v2\/research-type?post=2907"},{"taxonomy":"advocacy-issue","embeddable":true,"href":"https:\/\/www.restaurantscanada.org\/fr\/wp-json\/wp\/v2\/advocacy-issue?post=2907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}